SEI appointed as investment adviser for CIPD staff retirement scheme

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SEI has been appointed as investment adviser by the Trustees of the Chartered Institute of Personnel and Development (CIPD) defined benefit pension scheme.

SEI will act as an adviser for the total assets of the GBP29m defined benefit scheme in the UK.

CIPD is the professional body for HR and people development.

As CIPD's adviser, SEI will provide strategic investment advice as well as full implementation of a bespoke investment strategy to meet the scheme's long term objectives. SEI will also manage the scheme's day-to-day investment strategy including selection and replacement of managers, tactical asset allocation, changes to strategy, funding level monitoring, and reporting.

Peter Purdom, chairman of trustees at CIPD staff retirement scheme, says: "We were initially looking to appoint a traditional consultant. However, during the selection process it became apparent that SEI's solution offers a greater diversification of asset classes, investment styles, and investment managers than would be possible using the more traditional approach. Furthermore, the Trustees were attracted by SEI's ability to provide a fully bespoke service encompassing investment strategy, implementation, and governance."

David Hickey, director, European advice for SEI's institutional group, says: "We are delighted that the trustees of the CIPD scheme have appointed SEI and look forward to partnering with them in the months and years ahead. Our appointment by CIPD underscores both our comprehensive advisory capabilities and our ability to provide and implement fully bespoke solutions."